- 毛利率代表著產品的競爭優勢, 要和同一個產業做比較. 如果毛利率很低的話, 就要看公司的營收規模是否夠大
- 毛利率從谷底回升, 或許就是開始反轉的訊號
- 營益率代表著公司的經營效率
- 在不大幅舉債的前提下, ROE可以看出公司的經營品質
- 穩定或持續提升的毛利率和營益率十分重要, 要當心持續下滑的毛利率和營益率
- 本業收入比高的公司, 才容易預估財測, 值得花心力去研究
- 無形資產佔總資產比高的公司, 可能代表這家公司是透過併購來成長. 但如果佔比高的不合理, 則要當心
- 併購後有沒有發揮1+1>2, 營益率是一個很好的觀察指標
- 要檢視ROE上升或下滑的原因, 根據杜邦分析不外乎是利潤率, 營收, 財務槓桿的增減
- 租賃業要觀察延滯率(在銀行稱為逾放比率)的變化. 如果越來越多客戶拖延還錢(延滯率上升), 就代表接下來放款的錢也會變少(放款率下降)
| 營業毛利率 QoQ YoY | 營業利益率 QoQ YoY | 稅前淨利率 QoQ YoY | 稅後淨利率 QoQ YoY | 股東權益報酬率 QoQ YoY | 資產報酬率 QoQ YoY | 總資產周轉率 QoQ YoY | EBITDA利潤率 QoQ YoY | 財務槓桿 QoQ YoY | 本業收入比 QoQ YoY | 業外獲益比 QoQ YoY | 用人費用率 QoQ YoY | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 23Q4 (20) | 14.61 | 83.54 | -13.45 | -2.97 | 73.79 | -400.0 | -3.83 | 55.15 | -463.24 | -3.06 | 55.65 | -240.0 | -0.89 | 50.28 | -169.7 | -0.29 | 60.27 | -462.5 | 0.15 | 15.38 | 0.0 | 8.61 | 84.37 | -9.75 | 97.00 | 2.37 | -30.9 | 76.92 | -41.76 | 154.95 | 23.08 | 171.95 | -90.38 | 31.41 | -2.76 | 25.49 |
| 23Q3 (19) | 7.96 | 7.42 | -53.29 | -11.33 | 11.62 | -921.01 | -8.54 | 36.74 | -444.35 | -6.90 | 43.12 | -4412.5 | -1.79 | 41.12 | -3083.33 | -0.73 | 46.72 | -505.56 | 0.13 | 0.0 | -18.75 | 4.67 | 1053.06 | -58.85 | 94.75 | -3.5 | -34.22 | 132.08 | 40.54 | 128.13 | -32.08 | -765.57 | -167.71 | 32.30 | 2.77 | 21.79 |
| 23Q2 (18) | 7.41 | 9.94 | -50.57 | -12.82 | -2.89 | -5228.0 | -13.50 | 2.24 | -1305.36 | -12.13 | -4.12 | -4765.38 | -3.04 | 7.32 | -3140.0 | -1.37 | -3.79 | -956.25 | 0.13 | 0.0 | -23.53 | -0.49 | 47.87 | -105.44 | 98.19 | 11.26 | -31.25 | 93.98 | 4.68 | 322.89 | 4.82 | -52.88 | -93.8 | 31.43 | 6.22 | 18.6 |
| 23Q1 (17) | 6.74 | -60.07 | -65.13 | -12.46 | -1358.59 | -434.05 | -13.81 | -1930.88 | -438.48 | -11.65 | -1194.44 | -569.76 | -3.28 | -893.94 | -460.44 | -1.32 | -1750.0 | -364.0 | 0.13 | -13.33 | -18.75 | -0.94 | -109.85 | -107.7 | 88.25 | -37.13 | -28.0 | 89.77 | 164.12 | -0.25 | 10.23 | -95.74 | 2.27 | 29.59 | 18.22 | 4.56 |
| 22Q4 (16) | 16.88 | -0.94 | -14.49 | 0.99 | -28.26 | -77.5 | -0.68 | -127.42 | -114.85 | -0.90 | -662.5 | -129.8 | -0.33 | -650.0 | -126.19 | 0.08 | -55.56 | -87.88 | 0.15 | -6.25 | -21.05 | 9.54 | -15.95 | -16.46 | 140.38 | -2.54 | 12.94 | -140.00 | -341.82 | -248.0 | 240.00 | 406.67 | 8780.0 | 25.03 | -5.62 | -9.64 |
| 22Q3 (15) | 17.04 | 13.68 | -16.72 | 1.38 | 452.0 | -79.59 | 2.48 | 121.43 | -60.88 | 0.16 | -38.46 | -96.36 | 0.06 | -40.0 | -96.89 | 0.18 | 12.5 | -82.0 | 0.16 | -5.88 | -23.81 | 11.35 | 26.11 | -12.15 | 144.04 | 0.85 | 27.8 | 57.89 | 160.53 | -46.24 | 47.37 | -39.1 | 715.79 | 26.52 | 0.08 | 3.39 |
| 22Q2 (14) | 14.99 | -22.45 | -23.52 | 0.25 | -93.3 | -95.16 | 1.12 | -72.55 | -74.55 | 0.26 | -89.52 | -90.33 | 0.10 | -89.01 | -90.91 | 0.16 | -68.0 | -74.6 | 0.17 | 6.25 | -15.0 | 9.00 | -26.29 | -21.67 | 142.82 | 16.52 | 33.74 | 22.22 | -75.31 | -81.11 | 77.78 | 677.78 | 540.74 | 26.50 | -6.36 | -0.34 |
| 22Q1 (13) | 19.33 | -2.08 | -6.8 | 3.73 | -15.23 | 3.04 | 4.08 | -10.92 | 31.61 | 2.48 | -17.88 | 81.02 | 0.91 | -27.78 | 82.0 | 0.50 | -24.24 | 42.86 | 0.16 | -15.79 | -15.79 | 12.21 | 6.92 | 10.5 | 122.57 | -1.39 | 30.55 | 90.00 | -4.86 | -24.4 | 10.00 | 270.0 | 170.0 | 28.30 | 2.17 | -6.45 |
| 21Q4 (12) | 19.74 | -3.52 | -4.96 | 4.40 | -34.91 | 47.65 | 4.58 | -27.76 | 445.24 | 3.02 | -31.21 | 674.36 | 1.26 | -34.72 | 950.0 | 0.66 | -34.0 | 312.5 | 0.19 | -9.52 | 11.76 | 11.42 | -11.61 | 15.59 | 124.30 | 10.28 | 39.37 | 94.59 | -12.16 | -73.72 | 2.70 | 135.14 | 101.04 | 27.70 | 7.99 | -7.54 |
| 21Q3 (11) | 20.46 | 4.39 | -11.92 | 6.76 | 30.75 | 10.46 | 6.34 | 44.09 | 45.08 | 4.39 | 63.2 | 196.62 | 1.93 | 75.45 | 359.52 | 1.00 | 58.73 | 222.58 | 0.21 | 5.0 | 40.0 | 12.92 | 12.45 | -10.4 | 112.71 | 5.54 | 24.08 | 107.69 | -8.46 | -22.6 | -7.69 | 56.41 | 80.34 | 25.65 | -3.54 | -8.06 |
| 21Q2 (10) | 19.60 | -5.5 | -28.44 | 5.17 | 42.82 | -51.64 | 4.40 | 41.94 | -53.97 | 2.69 | 96.35 | -59.06 | 1.10 | 120.0 | -45.27 | 0.63 | 80.0 | -44.74 | 0.20 | 5.26 | 25.0 | 11.49 | 3.98 | -39.94 | 106.79 | 13.74 | 11.9 | 117.65 | -1.18 | 3.69 | -17.65 | -23.53 | -52.94 | 26.59 | -12.1 | 0 |
| 21Q1 (9) | 20.74 | -0.14 | 28.58 | 3.62 | 21.48 | 360.43 | 3.10 | 269.05 | 395.24 | 1.37 | 251.28 | 180.59 | 0.50 | 316.67 | 204.17 | 0.35 | 118.75 | 350.0 | 0.19 | 11.76 | 26.67 | 11.05 | 11.84 | 15.71 | 93.89 | 5.27 | 0.78 | 119.05 | -66.93 | -14.97 | -14.29 | 94.51 | 64.29 | 30.25 | 0.97 | -0.46 |
| 20Q4 (8) | 20.77 | -10.59 | 36.29 | 2.98 | -51.31 | 127.98 | 0.84 | -80.78 | 106.72 | 0.39 | -73.65 | 102.98 | 0.12 | -71.43 | 103.17 | 0.16 | -48.39 | 108.42 | 0.17 | 13.33 | 13.33 | 9.88 | -31.48 | 639.89 | 89.19 | -1.82 | -3.61 | 360.00 | 158.75 | 322.07 | -260.00 | -564.44 | -1868.0 | 29.96 | 7.38 | -1.35 |
| 20Q3 (7) | 23.23 | -15.19 | 35.93 | 6.12 | -42.75 | 1848.57 | 4.37 | -54.29 | 772.31 | 1.48 | -77.47 | 198.01 | 0.42 | -79.1 | 200.0 | 0.31 | -72.81 | 358.33 | 0.15 | -6.25 | 0.0 | 14.42 | -24.62 | 41.93 | 90.84 | -4.81 | 9.84 | 139.13 | 22.62 | 178.26 | -39.13 | -239.13 | -178.26 | 27.90 | 0 | -5.65 |
| 20Q2 (6) | 27.39 | 69.81 | 62.94 | 10.69 | 869.06 | 803.29 | 9.56 | 1010.48 | 501.26 | 6.57 | 486.47 | 3964.71 | 2.01 | 518.75 | 5125.0 | 1.14 | 914.29 | 1040.0 | 0.16 | 6.67 | 14.29 | 19.13 | 100.31 | 47.38 | 95.43 | 2.44 | 19.08 | 113.46 | -18.96 | 213.46 | -11.54 | 71.15 | -105.77 | 0.00 | -100.0 | -100.0 |
| 20Q1 (5) | 16.13 | 5.84 | 17.65 | -1.39 | 86.95 | 74.77 | -1.05 | 91.6 | 88.44 | -1.70 | 86.99 | 81.56 | -0.48 | 87.3 | 79.75 | -0.14 | 92.63 | 88.24 | 0.15 | 0.0 | 7.14 | 9.55 | 621.86 | 397.4 | 93.16 | 0.68 | 12.73 | 140.00 | 64.14 | 126.9 | -40.00 | -372.0 | -198.95 | 30.39 | 0.07 | -6.55 |
| 19Q4 (4) | 15.24 | -10.83 | 0.0 | -10.65 | -2942.86 | 0.0 | -12.50 | -1823.08 | 0.0 | -13.07 | -765.56 | 0.0 | -3.78 | -800.0 | 0.0 | -1.90 | -1483.33 | 0.0 | 0.15 | 0.0 | 0.0 | -1.83 | -118.01 | 0.0 | 92.53 | 11.89 | 0.0 | 85.29 | 70.59 | 0.0 | 14.71 | -70.59 | 0.0 | 30.37 | 2.71 | 0.0 |
| 19Q3 (3) | 17.09 | 1.67 | 0.0 | -0.35 | 76.97 | 0.0 | -0.65 | -140.88 | 0.0 | -1.51 | -788.24 | 0.0 | -0.42 | -950.0 | 0.0 | -0.12 | -220.0 | 0.0 | 0.15 | 7.14 | 0.0 | 10.16 | -21.73 | 0.0 | 82.70 | 3.19 | 0.0 | 50.00 | 150.0 | 0.0 | 50.00 | -75.0 | 0.0 | 29.57 | -6.92 | 0.0 |
| 19Q2 (2) | 16.81 | 22.61 | 0.0 | -1.52 | 72.41 | 0.0 | 1.59 | 117.51 | 0.0 | -0.17 | 98.16 | 0.0 | -0.04 | 98.31 | 0.0 | 0.10 | 108.4 | 0.0 | 0.14 | 0.0 | 0.0 | 12.98 | 576.04 | 0.0 | 80.14 | -3.03 | 0.0 | -100.00 | -262.07 | 0.0 | 200.00 | 394.74 | 0.0 | 31.77 | -2.31 | 0.0 |
| 19Q1 (1) | 13.71 | 0.0 | 0.0 | -5.51 | 0.0 | 0.0 | -9.08 | 0.0 | 0.0 | -9.22 | 0.0 | 0.0 | -2.37 | 0.0 | 0.0 | -1.19 | 0.0 | 0.0 | 0.14 | 0.0 | 0.0 | 1.92 | 0.0 | 0.0 | 82.64 | 0.0 | 0.0 | 61.70 | 0.0 | 0.0 | 40.43 | 0.0 | 0.0 | 32.52 | 0.0 | 0.0 |
| 營業毛利率 YoY | 營業利益率 YoY | 折舊負擔比率 YoY | 稅前淨利率 YoY | 稅後淨利率 YoY | 股東權益報酬率 YoY | 資產報酬率 YoY | 總資產周轉率 YoY | EBITDA利潤率 YoY | 財務槓桿 YoY | 本業收入比 YoY | 業外獲益比 YoY | 無形資產佔總資產比 YoY | 用人費用率 YoY | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 (10) | 9.31 | -45.27 | -9.73 | 0 | 11.01 | 45.09 | -9.78 | 0 | -8.30 | 0 | -9.83 | 0 | -3.75 | 0 | 0.55 | -17.91 | 3.10 | -70.48 | 97.00 | -30.9 | 99.60 | 12.31 | 0.40 | -96.45 | 0.09 | -30.42 | 31.18 | 17.31 |
| 2022 (9) | 17.01 | -15.46 | 1.55 | -69.31 | 7.59 | 17.08 | 1.74 | -62.82 | 0.48 | -83.73 | 0.75 | -84.18 | 0.93 | -64.5 | 0.67 | -14.1 | 10.50 | -10.71 | 140.38 | 12.94 | 88.68 | -17.61 | 11.32 | 0 | 0.13 | -9.17 | 26.58 | -3.1 |
| 2021 (8) | 20.12 | -8.3 | 5.05 | 8.6 | 6.48 | -26.39 | 4.68 | 35.65 | 2.95 | 71.51 | 4.74 | 135.82 | 2.62 | 81.94 | 0.78 | 27.87 | 11.76 | -10.84 | 124.30 | 39.37 | 107.64 | -20.07 | -7.64 | 0 | 0.14 | -38.39 | 27.43 | -4.72 |
| 2020 (7) | 21.94 | 39.57 | 4.65 | 0 | 8.81 | -10.13 | 3.45 | 0 | 1.72 | 0 | 2.01 | 0 | 1.44 | 0 | 0.61 | 3.39 | 13.19 | 130.59 | 89.19 | -3.61 | 134.67 | 54.1 | -34.67 | 0 | 0.22 | -0.9 | 28.79 | -7.22 |
| 2019 (6) | 15.72 | -0.13 | -4.53 | 0 | 9.80 | 10.09 | -5.20 | 0 | -6.02 | 0 | -6.66 | 0 | -3.10 | 0 | 0.59 | -9.23 | 5.72 | -65.42 | 92.53 | 12.92 | 87.39 | 0 | 12.61 | -92.13 | 0.23 | 38.69 | 31.03 | 4.06 |
| 2018 (5) | 15.74 | 13.4 | -3.84 | 0 | 8.90 | -8.25 | 6.33 | 0 | 5.66 | 0 | 6.84 | 0 | 4.15 | 0 | 0.65 | 12.07 | 16.54 | 133.29 | 81.94 | -11.83 | -60.93 | 0 | 160.26 | 772.55 | 0.16 | 0 | 29.82 | 4.45 |
| 2017 (4) | 13.88 | 0 | -3.40 | 0 | 9.70 | -42.06 | -4.15 | 0 | -5.98 | 0 | -7.06 | 0 | -2.92 | 0 | 0.58 | 23.4 | 7.09 | 0 | 92.93 | -18.31 | 82.65 | -11.2 | 18.37 | 165.45 | 0.00 | 0 | 28.55 | -5.09 |
| 2016 (3) | -5.33 | 0 | -23.64 | 0 | 16.74 | -14.86 | -25.40 | 0 | -28.16 | 0 | -26.85 | 0 | -12.56 | 0 | 0.47 | 20.51 | -6.61 | 0 | 113.76 | 17.56 | 93.08 | -7.3 | 6.92 | 0 | 0.00 | 0 | 30.08 | -7.5 |
| 2015 (2) | -0.62 | 0 | -20.66 | 0 | 19.67 | 15.46 | -20.59 | 0 | -20.85 | 0 | -15.48 | 0 | -7.46 | 0 | 0.39 | -7.14 | 1.17 | -91.54 | 96.77 | 8.63 | 100.41 | -23.45 | -0.41 | 0 | 0.00 | 0 | 32.52 | 12.06 |
| 2014 (1) | 11.27 | 0 | -6.52 | 0 | 17.03 | -8.26 | -4.94 | 0 | -4.48 | 0 | -3.51 | 0 | -1.38 | 0 | 0.42 | 7.69 | 13.83 | 14.11 | 89.08 | 10.88 | 131.16 | 3.6 | -31.88 | 0 | 0.00 | 0 | 29.02 | -7.9 |
